Average cold rolled coil (CRC) prices in the Chinese domestic market have increased compared to pre-holiday levels though they have softened in recent days, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
Early on October 9, the first trading day after the long holiday, traders in the Chinese domestic market significantly raised their CRC prices. However, demand did not indicate any significant improvement on the day in question, while HRC and rebar futures prices at Shanghai Futures Exchange (SHFE) declined, negatively affecting sentiment in the CRC spot market, dragging down CRC spot prices later on the same day. On October 10 and October 11, HRC and rebar futures prices at SHFE have decreased further and so CRC prices in the spot market have also softened further, though they are still higher compared to pre-holiday levels. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,650 |
706 |
↑60 |
|
Tianjin |
Tangshan Steel |
4,510 |
684 |
↑100 |
|||
|
Lecong |
MaSteel |
4,760 |
722 |
↑100 |
|||
|
Average |
- |
4,640 |
704 |
↑87 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,690 |
712 |
↑60 |
|
Tianjin |
Anshan Steel |
4,790 |
727 |
↑110 |
|||
|
Lecong |
Anshan Steel |
4,780 |
725 |
↑80 |
|||
|
Average |
- |
4,753 |
721 |
↑83 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.59 RMB